Top 5 Discount Stock Brokers in India 2024

Discount Stock Brokers India logos including upstox, 5paisa, groww, angel broking, and zerodha, with a graphic of a person using a laptop.


Discount Brokers

A discount broker offers lower commission rates, ideal for those who trade less frequently or have smaller sums of money. They often have no minimum deposit requirements and offer online trading platforms with customer service assistance. This type of broker is ideal for online investors looking to make quick trades with low commissions.

1. Zerodha

It is known for its user-friendly interface and low brokerage fees, Zerodha offers a wide range of investment options and advanced trading platforms, making it a top choice for discount brokerage in India.


With its competitive pricing and innovative trading tools, Upstox is gaining popularity among investors and traders in India. It provides a seamless trading experience and a variety of investment products.


Offering a simple and convenient trading platform, 5Paisa is known for its affordable pricing and comprehensive research tools, making it a preferred choice for cost-conscious investors.

4.Angel Broking

Angel Broking offers a wide range of investment options, competitive brokerage rates, and a strong research support system, making it one of the top discount brokers in India in 2024.

5.Grow was founded in May 2016 by a team of former Flipkart employees. It is a discount brokerage service that allows people to conveniently buy and sell stocks, Mutual Funds, and insurance policies online. The stockbrokerage firm is headquartered in Mumbai, with additional offices in Bengaluru and Hyderabad.

Advantages and disadvantages of Discount Broker


  • Discount Brokerage service‚Äôs main benefit is their lower cost compared to traditional brokerage services.
  • Low commissions and fees are beneficial to most investors, especially those with smaller account balances.
  • It’s a great first step for people who are just starting out and want to see how the market works before investing more money.


Limited customer support and assistance from an online trading platform or brokerage firm that specializes in low-priced trades is typically seen as negative by customers.

How to Choose the Right Discount Broker?

Here are some factors to consider when choosing a reputable discount broker:

Brokers Fee

Check that the broker’s fee is as low as possible if you transact frequently. It is important to assess different brokers and choose the one with the best and most affordable price.Additionally, you should also consider the available trading tools and platform features offered by the discount broker. Look for features like real-time market data, customizable charts, and a user-friendly interface that suits your trading needs.

Trading Interface

Choose a user-friendly trading interface with helpful tools for placing orders and analysis. Also, consider the service provided by the discount broker to streamline the investing experience.

Margin Trading

When choosing a discount broker, it’s important to consider margin trading, additional fees, broker reviews, distribution structure, electronic trading terminals, and the financial strength of the company. Another important factor to consider when choosing a reputable discount broker is the availability of research tools and educational resources. Opt for a broker that provides comprehensive market analysis, real-time data, and educational materials to help investors make informed decisions. This can greatly enhance your trading experience and increase your chances of success in the market.


When selecting a stockbroker, seek for one that charges a reasonable brokerage fee, has a low annual maintenance cost, high-quality trading tools, active customer support, and no hidden account fees. Furthermore, before opening your account, prioritize your particular trading style and preferences with the brokerage firm.
Nowadays, bargain brokers frequently launch a new campaign every month to attract new customers by giving no account opening fees, referral client perks, or even brokerage rebates. The competition among brokers forces them to innovate faster and provide more customer assistance, allowing traders/investors to enjoy better trading facilities and services.